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Chapter II: Prudential Control and Resolution Authority

Article R310-19 of the French Insurance Code

When the Autorité de contrôle decides, pursuant toArticle L. 612-33 of the Monetary and Financial Code, to initiate the procedure for the compulsory transfer of an undertaking’s portfolio of contracts, forms or memberships, this decision is brought to the attention of all insurance undertakings by a notice published in the Journal officiel. This notice sets a period of fifteen days during which the undertakings that agree to take over the…

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Article R310-22 of the French Insurance Code

Any manager of an undertaking subject to State supervision by virtue of Article L. 310-1 and of a supplementary occupational pension fund who fails to comply with the obligations or prohibitions resulting from Articles R. 310-5, R. 310-6 and R. 612-26 of the Monetary and Financial Code is liable to a fifth-class fine. Any manager of a company subject to State supervision by virtue of 1° of III of Article…

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Article R310-23 of the French Insurance Code

When winding-up proceedings are opened in application of article L. 310-25, the liquidator shall immediately and individually inform in writing each known creditor whose habitual residence, domicile or registered office is in a Member State other than France. The content and format of the note are set by order of the Minister for the Economy.

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